Question
Lisa wants to accumulate at least $60,000 by depositing $1,400 at the end of every month into a fund that earns interest at 6.25% compounded
Lisa wants to accumulate at least $60,000 by depositing $1,400 at the end of every month into a fund that earns interest at 6.25% compounded monthly. a. How many deposits does she need to make to reach her goal? Round to the next payment
How long will it take Lisa to reach her goal? Express the answer in years and months, rounded to the next payment period
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Focus On Personal Finance
Authors: Jack Kapoor, Les Dlabay, Robert Hughes, Melissa Hart
6th Edition
125991965X, 978-1259919657
